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MBNA Europe plans to acquire Loans.co.uk, a U.K. company that provides debt consolidation and purchase loans to consumers through third-party originators, direct mail marketing and the Internet.
Under the agreement between the two companies, MBNA Europe would acquire the outstanding shares of Loans.co.uk and operate the business as a subsidiary. The Loans.co.uk management team and existing employees will join MBNA and continue to operate the business from existing facilities, according to MBNA.
The acquisition...